Corporate Strategy

ICBC attaches high importance in the formulation and execution of growth strategy and moves forward by keeping to the established strategy. Business transformation is the key component of ICBC's growth strategy. Since the shareholding restructuring, ICBC has followed this strategy to draw up and implement two "Three-Year" plans, which achieved significant result and underpinned this transformation strategy in line with the economic and financial development and customer requirement, as well as ICBC's actual need of pushing ahead. This is proven to be accurate and effective. 2012 is the first year of ICBC's 2012-2014 strategic growth plan ("New 3-year Plan"). ICBC will continue embracing transformation to increase core competence and achieve sustainable development in all businesses through in-depth reform of business model.

I. ICBC's main accomplishments during the six-year strategic transformation
2006-2011 was the period of making great progress during ICBC's a decade of strategic transformation. During the past six years, China's economic restructuring provided a once-in-a-generation opportunity for ICBC to re-orient its business and change its growth pattern despite the negative impact brought by the global financial crisis. Significant results have been achieved:

First, the capital-intensive growth strikes a good balance between business development and capital constraints. ICBC is the first bank among the peers to move forward spending less capital. Second, regarding the issue of "Where to change", ICBC focuses on emerging business, intermediary business, and builds a new business development framework while keeping reasonable control on the scale of high capital-consuming business such as loans. As a result ICBC has achieved significant strength in growing great potential businesses. Third, all branches are excited about ICBC transformation resulting in substantial improvement in business efficiency. IV. Significant result on business restructuring with a sustainable portfolio covering business, asset, liability and income. V. Push forward a regional growth strategy, concentrate to enhance the business result and market competitiveness of the branches and sub-branches in key regions. VI. Reform on the system and mechanism, lift the ICBC management scheme to another new height. VII. Embrace a strategy of integration and globalization, set up a business platform to support ICBC to grow across the borders in different markets and make it viable into the future.

II. The Strategic Framework of ICBC's New 3-year Plan
Further afield, in the face of uncertainties and complexity of economic and financial conditions in China and overseas, ICBC is more determined to succeed at transformation and push for fundamental change of growth model in a bid to better seize the opportunity and face the challenges. In the next three years, ICBC will remain committed to the "Scientific outlook on development" and adhere to the State's macro control policy to push ahead and sustain healthy growth, under the strategic context of "Business Restructuring, Innovation Driven, Optimized Pattern, Deep Reform, Improved Services, Comprehensive Governance, Best Talents, Cultural Bond". ICBC is moving one major step towards its vision and objective to become "The Most Profitable, Most Outstanding, Most Admired Bank". ICBC will reaffirm its commitment to service real economy under the "capital-intensive" roadmap. ICBC strives to achieve steady and sustainable growth in business results through business restructuring and upgrade, as well as reform and innovation in businesses, systems and mechanisms.

ICBC believes that, the New 3-year Plan will play an important role to provide strategic guidance and drive the business growth of ICBC in the near future. ICBC will take all necessary steps to make another inroad on the performance of all branches.